The median list price in Newport Coast this week is $4,194,400. Inventory has been lightening lately and the Market Action Index has been trending up. Though days on market are increasing, these are mildly positive indications for the market.
Supply and Demand
The market continues to get hotter. More sales demand and fewer homes listed have contributed to a relatively long run of increasing prices. Current supply and demand levels show no sign of prices changing from their current trend.
Prices in Newport Coast hit another all-time high this week. You can see that prices continue to march high. Look for a persistent downtrend in the Market Action Index into the buyer’s zone as a leading indicator of the price strength finally abating.